Nano Nuclear Energy (NASDAQ:NNE) Shares Up 5.7% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 5.7% during mid-day trading on Friday . The stock traded as high as $29.64 and last traded at $29.13. 1,698,439 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 6,176,246 shares. The stock had previously closed at $27.55.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Benchmark increased their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Trading Up 4.5 %

The company has a 50 day moving average of $30.50 and a 200 day moving average of $22.50. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of -70.22.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. As a group, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in Nano Nuclear Energy in the third quarter worth $25,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy during the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd bought a new stake in Nano Nuclear Energy during the 4th quarter worth about $30,000. Finally, IFP Advisors Inc increased its position in Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after acquiring an additional 1,277 shares in the last quarter.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.